Charter price target lowered to $300 from $325 at Morgan Stanley

Morgan Stanley analyst Benjamin Swinburne lowered the firm’s price target on Charter to $300 from $325 and keeps an Equal Weight rating on the shares. Charter and the industry face “a summer of elevated uncertainty and long-term concerns over growth prospects,” says the analyst. While the stock remains at a depressed valuation compared to history and the “silver lining” is that the impact of ACP’s wind down on Charter’s business will be known come fall, for now the firm maintains its Equal Weight rating.